This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies. More information

Manoj Atri Sales Representative
RE/MAX Hallmark Realty Ltd., Brokerage Independently owned and operated
685 SHEPPARD AVENUE EAST Unit: 401
Toronto, ON   M2K 1B6

Office: [416] 494-7653Mobile: [416] 275-2089

Problems With Rent To Own Homes

There are numerous problems with Rent To Own Homes. Apart from it being the worst case scenarios, 
it is a very costly program, full of market scams, risk, pitfalls, deception, greed to name a few. 
Below are 5 most common problems with Rent To Buy House explained for you to make a profound decision. 

What are the 5 Most Common Problems with Rent To Own Homes?

1. Down Payment Security Issues: Landlord holds your initial deposit, extra payments per month.
If anything goes wrong you may loose all your amount.

2. Mortgage Issues: You may not qualify for a mortgage.
It could be due to change in your situation, interest rates, property appraised value etc. 

3. Market Value Issues: Property Value may be well below Option Price value. 
You will have to come up with additional amounts to close the property. 

4. Credit Repair Issues: Your credit may not get repaired in time to procure a mortgage. 

5. Landlord Issues: Seller / Landlord my run into financial problems, bankruptcy, power of sale / foreclosure issues. 

 

Request More Info: Rent to Own FREE Homes Listings Greater Toronto Area.

Manoj Atri Sales Representative
RE/MAX Hallmark Realty Ltd., Brokerage Independently owned and operated
685 SHEPPARD AVENUE EAST Unit: 401
Toronto, ON   M2K 1B6

Office: [416] 494-7653Mobile: [416] 275-2089

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 8/23/2019 8:36:26 AM